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AmCham: Gov't Plans Will Bring Big Hikes in Social Insurance Payments
Tuesday 31 August 2010 Zoom in | Print page
Bratislava, August 31 (TASR) - According to foreign investors, an increase in the maximum assessment basis for calculating monthly insurance levies to five times the average monthly salary, which has been proposed by the Government, would bring a 37-percent increase in social-insurance payments for employees with higher earnings.
According to a statement provided for TASR by the American Chamber of Commerce (AmCham) on Tuesday, expenses on social-insurance payments would increase by 30 percent for employers. In addition, AmCham stressed that raising levy ceilings will have a direct effect on people with university education and highly-qualified employees working in sectors such as information technologies, telecommunications and pharmacy. These are sectors with high added value and a sophisticated labour force, and the Chamber notes that all governments in Slovakia have called for the creation of a competitive, knowledge-based economy.
On the other hand, AmCham supports the Government's efforts to bring about fiscal consolidation. According to the investors, the Government should mainly concentrate on ambitious savings.
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